Jon Daniels

As executive vice president of CarMax Auto Finance (CAF), Jon Daniels is responsible for all strategic and managerial aspects of the finance experience at CarMax including the approximately $18 billion captive finance company as well as business relationships with all lending and ancillary product partners.

Under Mr. Daniels’ leadership, CAF is one of the top lenders in the used auto space, originating nearly $9 billion annually. He was instrumental in leading CarMax through the 2008 credit crisis and the 2020 economic volatility due to COVID-19 by retaining strong credit offers for customers and maintaining a highly regarded asset-backed securities funding program. In tandem with the company’s push towards becoming a premier omni-channel retailer, Mr. Daniels spearheaded the building of a best in class digital, multi-lender pre-qualification product, Finance Based Shopping, that enables customers to digitally receive quick credit decisions across CarMax’s entire vehicle inventory without impacting their credit. In addition, Mr. Daniels leads CAF’s strategy to become a full spectrum lender, expanding CAF’s ability to reach a broader set of CarMax customers.

In a career spanning over 25 years, Mr. Daniels has worked in the credit and lending space, driving innovative change using data science and advanced analytics. He has worked for many large financial institutions, including industry-leading credit card issuers such as AT&T Universal Card, Citibank, and HSBC. In his roles at these companies he oversaw new account originations, portfolio management, statistical modeling, and technology deployment for both marketing and credit functions. Prior to joining CarMax, Mr. Daniels spent seven years with Metris and supported the successful merger with HSBC in 2005. Following his critical role managing the acquisition, he continued with HSBC and presided over credit for $12 billion of over $30 billion in general purpose card portfolios.

Mr. Daniels serves on the board of the American Financial Services Association, an organization dedicated to continually improving and protecting access to credit for consumers. An active participant in his community, he has also worked with an Atlanta-area Junior Achievement program to develop an experiential learning model, educating students on financial literacy by explaining the auto purchasing process.

Mr. Daniels received his Master of Science in operations research from the University of Kentucky and a Bachelor of Arts in mathematics from Flagler College in St. Augustine, Florida.